Ecuador is sitting on $3.6 billion worth of oil reserves. Currently, these reserves are untapped because of one key reason--they're right in the middle of an important national park.
Drilling would result in 410 million tons of carbon dioxide emissions.
So Ecuador's President Correa came up with a proposal--if the global community would donate the $3.6 bn to the small South American country, then it wouldn't drill in Yasuni National Park.
This proposal has been going on since 2007, and so far $13 million has been raised (a tiny percent).
On Thursday, Correa said he would propose legislation to begin oil exploration in the park-undoubtedly a sad development.